Weeks before the exam

CFA Level III
#1

This is my first post here, although I am following this forum for multiple years.

One thing which puzzles me is the following. On various forums (also here) I read that people are just refreshing things and make practice exams in the last weeks before the exam. How can you remember all the details when you have read the books a few months ago? By just making practice exams you are missing a lot of curriculum no?

My strategy is to take off 2 weeks before the exam and try to study everything again as good as possible.

Any comments are welcome.

#2

I think everybody has their own method, and yours has clearly gotten you to L3 so I say if it ain’t broke don’t fix it.

Personally I learn better by doing questions. It forces you to apply the concept vs. merely reading it again - and having that “oh, yes” approach when re-reading. Doing as many questions as possible also highlights my weak areas - and those I will go back and re-read, or at least do more questions on the topic (a-la implementation shortfall, effective interest on a loan, etc.).

Mark Meldrum (I know I talk a lot about this guy, but he seriously is the reason I passed L2) posted a few good videos on learning. He strongly suggests reading - then hit the problems, read - then hit the problems, repeat. In short, you have to do questions to commit to memory.

I’m rambling now but you get the point. Stick with what works for you, but take that into consideration.

Cheers

#3

As above - if it ain’t broke…

But for me doing questions for the last month works because it forces you to jump from topic to topic. If you do a practice exam, for example, you’re likely to touch most of the curriculum sections at least once and might stumble across something you don’t have in your notes. Do enough of them and you start to embed the stuff that is tested a lot and drop out some of the stuff that isn’t tested (in CFAI practice questions and/or external mocks).

Admittedly I am a little worried about this strategy at level three where the sections are less distinct from each other. E.g it’s all portfolio management right?

Nevertheless, I wouldn’t want to focus too much on reading right now in case I wasted time reading stuff that nobody else found important enough to test.

#4

Yeah you got to do as many questions as possible. Got to step on those booby traps to know where to look for them in the exam!

#5

I agree with Codtrawler87. Success = questions, questions, questions. rinse, repeat.

#6

I had similar question how to retain all sections from all books. Revising stuff and taking exams do that job I guess. Take mulitple exams and revise readings. Eventually students know which sections are more important and which are less important and you automatically focus more on important sections/readings.

I had taken 1 week off before L3 exam, but that is up to you and your strategy. Some students take days off early in May and go to office a day before exam.

All the Best!!

#7

It depends. If you don’t take good notes, then you probably need to do lots of questions.

But if you take good notes, then you need to do enough questions to know the traps and what they are focusing on, and then go back to your notes and drill them into your head.